Keith Olbermann made a semi-career on MSNBC criticizing the last administration for its deficits. The Bush presidency did not do a good job of controlling federal spending. At the end of the Bush administration Olbermann had lots of criticism about Bush's profligacy with spending to create a deficit that amounted to 5% of the GDP. In the last several months federal receipts have dropped from their historic levels of 18-20% to 15%. But according to the Congressional Budget Office the first Obama Administration budget is 13% of GDP, even by allowing for the decline in revenues, that is some kind of record. If Olbermann were not a hypocrite he might raise a question about those levels. When do you expect him to do that? Will it before or after hell freezes over?
Here's the thing. Our current financial crisis began during the Bush administration. The bail outs (banks and auto industry), began during the Bush administration. I am waiting to see what Obama's administration is going to do to repair the economy. If Bush were still in office, I think he would likely take similar steps to the ones Obama has taken so far- with the depth of our crisis comes a lack of options. (I am sure you will disagree). How do you think things would be different if W had been faced with our current situation? I think THAT is what you, me, and Keith Olbermann need to consider.
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